Falling dairy sales have hit Russian baby food producer Nutritek Group who reported a 16% drop in sales volumes for the third quarter ended 31 December 2007.
Combined sales in the company’s baby food and dairy segments decreased from 46,000 tons to 38,600 from the same period last year.
Baby food sales volumes increased by 15.3 % year-on-year from 10,900 tons to 12,500 tons.
In the dairy segment, sales volumes decreased by 25.7 % year-on-year from 35,100 tons to 26,100 tons due to the disposal of its dairy business to Russagroprom in November 2007.
The group generated revenue of US$378.9m for the full 2006 financial year, ended 31 March 2007.